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Year over year median price changes are listed by town in the graph below. The big story with prices is that they haven\u2019t come down in the way people continue to hope for. Economists are saying interest rates will likely remain high <\/a>and there will continue to be a \u201clock in effect\u201d preventing homeowners from listing their homes, not wanting to lose their 2% and 3% mortgage rates. The downside to the lock in effect is it prevents needed inventory from hitting the market, which is what is keeping prices elevated. <\/p>\n Holly Springs had the highest year over year appreciation, at 20%. Cary had the largest share of listings with bidding wars, with 34% of sales receiving multiple offers. <\/p>\n Sign up for our newsletter to be kept in the loop.<\/a><\/p>\n Expired listing data also had some interesting twists\u2026 see below. <\/p>\n <\/div>\n<\/div>\n<\/div>\n<\/div>\n Cary had a 121% increase in expired listings from spring of 2023 to spring of 2024. Remember that means that a lot more homes were listed but didn\u2019t sell before the listing agreement expired. An increase in expired listings is generally a sign of a weakening housing market. And spring is the most active time of the year for the real estate market so to have so many properties expire without selling is a big deal. But, as usual, there is often something else at play when we see surprising statistics. If I see rising expired listings at the same time that I see rising prices, that tells me I need to dig deeper. In 2023, there were 19 properties that expired during this period and in 2024, there were 42. I dug into the details a little bit and found that for the properties that expired, 59% of them were either condos or townhomes. When I looked at properties that actually closed in Cary during that same period, only 25% were attached housing. This tells me that while land is getting more expensive and denser housing is being built in Cary, people would rather live in Apex, Holly Springs or Fuquay Varina, in a single family home, than live in Cary in an attached house. Apex, Cary and Holly Springs didn\u2019t have those jumps in expired listings like Cary did. And these suburbs have similar access to great parks, greenways and other amenities, but they didn\u2019t see nearly the rate of expired listings as Cary did. See additional data in the graph below.<\/p>\n If you\u2019re thinking of buying or selling a home in Cary, I would expect to still see competing offers on many single family homes. Cary had one of the highest rates of competing offers in the Triangle. But if you\u2019re offering on an attached home, you\u2019ll be less likely to see that competition. <\/p>\n If you\u2019re thinking of buying or selling in another area, feel free to reach out to discuss the data in your area of interest. You can contact me<\/a> here anytime! <\/p>\n Schedule a Call to Discuss it! <\/p>\n<\/div>\n<\/div>\n<\/div>\n View homes for sale in each Triangle Town, City, or County HERE<\/a>.<\/p>\n Just Listed Homes in the Triangle<\/a><\/p>\n\n\n
\n \nTriangle Area Town<\/th>\n Median Price<\/th>\n % Change:
Year over Year<\/th>\n% Competing Offers<\/th>\n<\/tr>\n<\/thead>\n \n Apex <\/td>\n 615,072<\/td>\n 2.68%<\/td>\n 27.82%<\/td>\n<\/tr>\n \n Cary<\/td>\n 650,000<\/td>\n 7.44%<\/td>\n 34.57%<\/td>\n<\/tr>\n \n Chapel Hill<\/td>\n 667,500<\/td>\n -1.84%<\/td>\n 26.54%<\/td>\n<\/tr>\n \n Clayton<\/td>\n 370,000<\/td>\n 0.00%<\/td>\n 9.58%<\/td>\n<\/tr>\n \n Durham<\/td>\n 430,000<\/td>\n 3.61%<\/td>\n 23.81%<\/td>\n<\/tr>\n \n Fuquay-Varina<\/td>\n 475,000<\/td>\n 5.46%<\/td>\n 7.38%<\/td>\n<\/tr>\n \n Garner<\/td>\n 410,000<\/td>\n -0.34%<\/td>\n 9.95%<\/td>\n<\/tr>\n \n Holly Springs<\/td>\n 687,488<\/td>\n 20.87%<\/td>\n 20.18%<\/td>\n<\/tr>\n \n Knightdale<\/td>\n 419,000<\/td>\n 13.68%<\/td>\n 16.36%<\/td>\n<\/tr>\n \n Morrisville<\/td>\n 500,750<\/td>\n -6.05%<\/td>\n 31.08%<\/td>\n<\/tr>\n \n Raleigh<\/td>\n 455,000<\/td>\n 4.60%<\/td>\n 21.19%<\/td>\n<\/tr>\n \n Wake Forest<\/td>\n 515,000<\/td>\n 3.03%<\/td>\n 12.01%<\/td>\n<\/tr>\n \n Wendell<\/td>\n 391,075<\/td>\n -4.61%<\/td>\n 7.83%<\/td>\n<\/tr>\n \n Zebulon<\/td>\n 343,097<\/td>\n -4.69%<\/td>\n 4.60%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Expired Listings<\/h2>\n
Thinking about Buying or Selling?<\/h2>\n
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\n \nTriangle Area Town<\/th>\n Expired Listings 2023<\/th>\n Expired Listings 2024<\/th>\n Percent Change<\/th>\n<\/tr>\n<\/thead>\n \n Apex <\/td>\n 20<\/td>\n 14<\/td>\n -30.00%<\/td>\n<\/tr>\n \n Cary<\/td>\n 19<\/td>\n 42<\/td>\n 121.05%<\/td>\n<\/tr>\n \n Chapel Hill<\/td>\n 14<\/td>\n 33<\/td>\n 135.71%<\/td>\n<\/tr>\n \n Clayton<\/td>\n 27<\/td>\n 32<\/td>\n 18.52%<\/td>\n<\/tr>\n \n Durham<\/td>\n 67<\/td>\n 112<\/td>\n 67.16%<\/td>\n<\/tr>\n \n Fuquay-Varina<\/td>\n 27<\/td>\n 28<\/td>\n 3.70%<\/td>\n<\/tr>\n \n Garner<\/td>\n 16<\/td>\n 9<\/td>\n -43.75%<\/td>\n<\/tr>\n \n Holly Springs<\/td>\n 12<\/td>\n 11<\/td>\n -8.33%<\/td>\n<\/tr>\n \n Knightdale<\/td>\n 3<\/td>\n 9<\/td>\n 200.00%<\/td>\n<\/tr>\n \n Morrisville<\/td>\n 3<\/td>\n 9<\/td>\n 200.00%<\/td>\n<\/tr>\n \n Raleigh<\/td>\n 115<\/td>\n 202<\/td>\n 75.65%<\/td>\n<\/tr>\n \n Wake Forest<\/td>\n 25<\/td>\n 43<\/td>\n 72.00%<\/td>\n<\/tr>\n \n Wendell<\/td>\n 3<\/td>\n 18<\/td>\n 500.00%<\/td>\n<\/tr>\n \n Zebulon<\/td>\n 18<\/td>\n 20<\/td>\n 11.11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n More from the Blog.. . <\/h2>\n